Brand positioning is an essential element of a winning brand strategy. Positioning simply refers to how your product or service looks in the minds of prospects and customers relative to other products or services available in your niche.

The term positioning It has two connotations: one vertical and one horizontal. In terms of vertical connotation, the term refers to the order in which your product ranks relative to your competitors’ products in the minds of your customers in your industry niche. (For example, which product comes to mind first when I say the word Salary readjustment?)

As for the horizontal connotation, the term refers to the qualities and attributes that your product represents in the minds of your customers, again relative to your competitors.

While you can’t directly control the ranking your product or service enjoys in the minds of your customers, you can influence how you position the product in terms of qualities and attributes. Meaning, by properly positioning your product relative to your competitors in the minds of your customers, you will have much more control over how your brand is perceived in the marketplace. You then effectively have a guide or roadmap on how to execute your brand strategy.

Short exercise:

Identify the key differentiators of your product. Ask yourself: why would customers buy from me? What makes my product different? What is the unique value it adds? Be sure to list at least 4-5 features that set your product apart and make it unique.